CARBO Ceramics Given New $150.00 Price Target at Davidson (CRR)
Equities research analysts at Davidson cut their price objective on shares of CARBO Ceramics (NYSE:CRR) from $163.00 to $150.00 in a research note issued to investors on Friday. Davidson’s price target indicates a potential upside of 21.70% from the stock’s previous close.
A number of other firms have also recently commented on CRR. Analysts at Goldman Sachs raised their price target on shares of CARBO Ceramics from $138.00 to $148.00 in a research note on Thursday, July 10th. Separately, analysts at Guggenheim upgraded shares of CARBO Ceramics from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 9th. They now have a $165.00 price target on the stock, up previously from $110.00. Finally, analysts at Ned Davis Research upgraded shares of CARBO Ceramics from a “sell” rating to a “neutral” rating in a research note on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $143.91.
Shares of CARBO Ceramics (NYSE:CRR) traded down 1.04% during mid-day trading on Friday, hitting $123.25. The stock had a trading volume of 902,621 shares. CARBO Ceramics has a 1-year low of $81.01 and a 1-year high of $156.00. The stock’s 50-day moving average is $143.6 and its 200-day moving average is $131.6. The company has a market cap of $2.847 billion and a price-to-earnings ratio of 33.57.
CARBO Ceramics (NYSE:CRR) last released its earnings data on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.01. The company had revenue of $176.60 million for the quarter, compared to the consensus estimate of $165.60 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts expect that CARBO Ceramics will post $4.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, July 30th. This is an increase from CARBO Ceramics’s previous quarterly dividend of $0.30.
CARBO Ceramics Inc is the supplier of ceramic proppant and the resin-coated sand. The Company is the provider of the fracture simulation software, and a provider of fracture design and consulting services, and a range of technologies for spill prevention, containment and countermeasures.
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